NVIDIA Corporation (NASDAQ:NVDA) Shares Acquired by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,535 shares of the computer hardware maker's stock after acquiring an additional 1,585 shares during the period. NVIDIA accounts for approximately 0.7% of Spinnaker Investment Group LLC's investment portfolio, making the stock its 17th biggest holding. Spinnaker Investment Group LLC's holdings in NVIDIA were worth $2,876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Tacita Capital Inc acquired a new position in NVIDIA during the fourth quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth approximately $38,000. Copia Wealth Management acquired a new position in NVIDIA during the fourth quarter worth approximately $50,000. Bruce G. Allen Investments LLC increased its position in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total value of $12,233,250.00. Following the sale, the chief executive officer directly owned 74,873,225 shares in the company, valued at $12,212,571,729.75. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A Brooke Seawell sold 49,131 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $162.83, for a total value of $8,000,000.73. Following the completion of the sale, the director owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock worth $660,253,045 over the last quarter. Insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NVDA. Piper Sandler reiterated an "overweight" rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 target price (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. The Goldman Sachs Group began coverage on NVIDIA in a research note on Thursday. They issued a "buy" rating and a $185.00 target price on the stock. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $177.03.

NVIDIA Price Performance

NVDA stock opened at $164.92 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $167.89. The stock has a 50-day moving average price of $141.53 and a two-hundred day moving average price of $128.69. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.02 trillion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.46 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. As a group, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

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